Eroscoin (EROS) - Open Source Solution for Blockchain Payment

The EROS Blockchain (“EROS”) is committed to develop a payment solution for the blockchainindustry different from all cryptocurrencies. It utilizes a value transfer protocol to achieve thetransferring of payment on peer to peer basis and to build up a decentralized applicationplatform, which brings blockchain technology into the global payment industry, eCommerceindustry, financial services, Internet of Things, supply chain management, social media, gaming,Information technology, HR systems, product management and other industries. Innovativetechnology, comprehensive governance structure and board applications give EROS advantagesover Bitcoin and Ethereum as a public blockchain.

The EROS Payment gateway and wallets, as the most promising blockchain ecosystem for thepayment industry, perfectly combines the advantages of leading cryptocurrencies and addressesthe inherent problems of existing blockchain systems. It will continue to develop and iteratethrough the foundation of the platform, as well as through the products and practical businessimplementations. A new kind of economy mode will be formed by the Blockchain Economy tosignificantly enhance the efficiency of the industries, as well as society as a whole.

In addition to that, the payment industry backs the payment ecosystem to fulfill the demands ofcustomers & merchant. There are many payment gateways/merchants are in the industry ofBlockchain. However, the services of the EROS payment is totally different, unique, secure &better with extra facilities. Extra services of EROS includes payment gateway services, P2P chat,In-chat payment facility, merchant payment solutions, invoicing management, productmanagement, order management & product support tools as well.

The foundation will provide transparency for payments management, financial management,code management and business practices for merchants, and will maintain high standards ofhonesty, ethical business conduct and compliance with applicable laws, rules, and regulations forthe users. An accounting firm has been engaged to provide financial report audit and compliancemanagement services.

The birth and the infancy stage of EROS have been strongly supported by the foundingmembers, the development team, industry experts, early backers, lawyers and professionalconsultants. We would like to thank everyone who have made extraordinary contributions to thedevelopment of the EROS Blockchain Economy.

The Background & Significance of Blockchain

Before the emergence of the Bitcoin network, the TCP/IP protocol has been widely used totransmit information globally. The development of interconnection technology (e.g., Internet,Internet of Things, and Virtual Reality/Augmented Reality) have introduced more diverse ways tointeract among people, information and objects and allowed more entities to become digitizedand tokenized.

However, information sharing and transmission is not enough to meet the development needs ofthe economic society. A question has been increasingly raised and discussed by the public: Howcan we transfer digital payments and value from peer to peer?

In the past, we were not able to identify a solution to transfer assets and value from peer-to-peerover the Internet without the involvement of third parties. The Bitcoin network is the first P2Pvalue transfer protocol. In this EROS Blockchain white paper we introduce the practicalimplementation of a VTP over the Internet.

With the world getting more connected, an increasing number of companies strive to offer theirservices and solutions online. Finance, education, healthcare, commerce and leisure providersare actively moving towards digitization in an attempt to serve the existing and find newcustomers worldwide.

In a result, EROS foundation is aimed to provide better and possible facilities, and to strengthenthe crypto payment industry by using the Blockchain ecosystem.

On the 31 st of October 2008, Satoshi Nakamoto announced the Bitcoin whitepaper titled“Bitcoin, A Peer to Peer Electronic Cash System” and introduced the Bitcoin network to establisha decentralized system of value transfer. Every participant in the Bitcoin network acts as areviewer of transactions; the value transferred between two parties can be completed withoutestablishing a trust relationship. This technology has changed the way we obtain and share valueand has created a new decentralized, peer-to-peer community.

European Parliament, along with other regulatory authorities across the globe are now activelyoutlining new rules and principles for e-services. The legal framework removes regulatoryuncertainty serving as a catalyst for the business migration online. We’ve undertaken a thoroughanalysis of the latest trends including rules around eID, QES and Trustee services as well as theAggregation of Payment Services within the scope of the PSD2. And this is where EROS steps in.

Vision of EROS Team

EROS Foundation is committed to develop fully qualified & professional global blockchaincommunity by cooperating with the other blockchain communities, third party services,developers and companies. The goal of EROS Foundation is to innovate the experience of usingvirtual currency in real life. Ultimately bring it into finance, business, product management,gaming, payments and internet industries. EROS Foundation is the compatible ecosystem todevelop, enhance and bridge the real world applications into the blockchain.

In the current era, there are many payment industries are in an existence based on theblockchain systems. The current market depends on the peer to peer payment transfers withproof of security. However, such a security are not possible with presently running systems.

Thus, EROS want to provide extra facilities then the current available payment system providers.In addition to that, EROS has planned to provide real-time solutions for merchants & customers.Integration of all new blockchain based technologies and upcoming currencies is our aim todevelop the EROS ecosystem.

Technical Development:

As a part of the open source innovation, The EROS Foundation is eventually committable todeliver secure, reliable and compatible platform to an open source community. Our highly skilleddevelopment team has capability to enhance payment ecosystem with more reliability.The developers and third party services gets an unlimited independency to create & developtheir applications on top of the EROS Blockchain. It also integrates on-chain and off-chain datathrough technical and conceptual innovation.

Business Development:

The EROS Foundation will reference investment banking practices to perform industry analysisand selections and to choose the appropriate industries to implement EROS Coin in thebusinesses. Enterprises using the EROS blockchain will be able to develop more applications inorder to achieve the sustainable development of EROS Coin. In future EROS foundation willprovide solutions to the Enterprise business partners to burn less transaction fees and get morebusiness development with EROS foundation.

Decentralized Financial Services:

There is no central authority. This eliminates centralized overhead such as centralizing allpayments at one place in big organizations. In financial terms EROS Coin helps you todecentralize everything suitable for the technology.The EROS foundation will provide a transparency for financial management, code managementand business practices, and will maintain high standards of honesty, ethical business conduct andcompliance with applicable laws, rules, and regulations.An accounting firm has been engaged to provide financial report audit and compliancemanagement services.To further make the EROS a truly open source community, the EROS foundation will eventuallydistribute 80% of the total EROS tokens to the community for business implementations,marketing promotions and linkages between the real world and blockchain world. The remaining20% tokens will be allocated to the co-founder team, early backers, consultants, anddevelopment team.

The EROSCOIN Architecture

Overview/Objectives

The EROSCOIN foundation is an organization seeking to provide decentralized payment solution to the merchant & users. EROSCOIN is responsible for the creation, management & distribution of the EROS tokens. It also has the responsibility of crypto currency assets, development of coin, and the updates of future products and services followed by EROSCOIN Blockchain. Funds received by the EROS foundation will be utilised to further improve the EROSCOIN in order to increase its value.

Objectives of the EROSCOIN are..

- Provide seamless, smooth & secure payment transfers- Provide the possibility of transferring value between users & merchants- Make the process of splitting currencies easier.- Create currency for every industries which are using online payment gateways- Create & provide mass payment facility to fulfill community needs.In a nutshell, we emphasize on the industry’s challenges and reveal the solutions for increasingthe users of payment gateways using the virtual currencies.

Market & Infrastructure

Every market has its own infrastructure and working ways for it. No matter, if it is dependent onanother markets or industry. The blockchain & cryptocurrency market is holding billions of moneyin the virtual world. Enabling the peoples to transfer high value money to each other.Talking about the infrastructure of EROS platform. It is totally depends on how people use thecoin. Let’s assume one freelancer Bob is willing to receive international payment within aseconds. He is a member of particular freelancing website or community which accepts onlyCredit card as a payment method.Now the real life problem begins here. Once he is ready to receive the payment, he must verifyhis freelancing account as per KYC norms of particular website. This way it will take normally24-48 hours.After getting approved, he will be able to receive payments and its normally executed within 2-3days. So, let’s override the whole process of sending & receiving payments within a 30 secondsusing EROSCOIN payment platform. Now, You can send and receive your transaction within afraction of seconds.

Borderless Payments

Whenever one or group of people required to send money outside the country. It is mostimportant thing to receive payment as soon as possible on receiver’s side. In this termsEROSCOIN payment solution is available to solve the issue. This platform is a totally dedicated forthe people of an online economy where people transacts using fiat currencies.

To successfully enable borderless payments in a real term, One have to send money usingEROSCOIN web or mobile wallet to another person. The receiver will get an instant notification ofnew incoming payments. Now to withdraw that money receiver can withdraw that amount in fiatcurrency for his/her routine use.

There are several benefits of using borderless payments, the first and foremost importantbenefits is the faster transactions without involving any intermediate banks or third party persons.It helps an individual to save their time.

ICO Structure

Funds raised during the ICO will be used solely for the development of the EROSCOIN network.The following distribution of funds is preliminary and can be a subject to change.

The ERO Token is used to power the EROSCOIN payment solution and works as a mean toreward or get rewarded for participation in the peer to peer payments. each payments on thesystem has an associated cost specified in ERO. as soon as the payments are carried out on theEROSCOIN platform, the ERO is transferred from one participant to another.ERO will be issued during our first phase of ICO. Once completed, no further tokens will begenerated. The remaining tokens after ICO will be burned.EROS tokens crowdsale will be distributed in two phases. In the first phase of Presale-ICO, upto45% extra bonus tokens will be provided. In the second phase of ICO, up to 25% extra bonustokens will be distributed. As soon as the crowdsale ends, within a week every users canexchange the tokens in the leading exchanges.A maximum of 240 million tokens will be generated, of those 120 million tokens will be kept asreserve. While in the process of crowdsale, A maximum of 120 million ERO tokens will be soldduring the crowdsale.

Roadmap

Q2 - 2016:

Concept Development:- Research into blockchain technology and payment gateway markets. Do a feasible studyof all possible technologies we can integrate in.

Q3 - 2016:

Idea Validations:- The development team will start to work on ideas and differentiate it based on the initialprototype of the ERO Token.

Q1 - 2018:

Q2 - 2018:

- ERO Mobile wallet launch- Further development of EROS

EROSPAY Decentralized Applications (DApps)

EROSPay Web Wallet (Mighty)

Online wallets have always been an intriguing development for cryptocurrency users. Theyalways demands it in easy way. Everything should be easy to use, secure & ultra fast. To use ourwallet all users need to do is register an account, and their wallet is ready to use.

Features of EROS Web wallet

- It is specifically designed for peer to peer payments- Generate & holds multiple addresses in account- Send & receive ERO cryptocurrency within a second- 2FA security enabled on web wallet- Secure & transparent wallet data directly connected on the Ethereum Blockchain network.- Easy to use web wallet interface- Designed to receive important wallet notification on time through email

Easy to send & receive coins:

The EROS browser based web wallet is fast and secured with advanced security algorithms. Youcan send and receive ERO coins to person or a merchant by providing custom fees for eachtransactions.

Suitable for every computers:

The EROS web wallet is suitable for all computers that supports web 2.0 modern web browsers.The majority of the supported browsers are Safari, Google Chrome, Microsoft Edge, MozillaFirefox & Opera.

Onestep access:

Login to your EROS web wallet using one step login features. Even it is integrated with our twofactor authentication security to make it full proof against the possibility of account theft.Secure and stable connection:Based on the ethereum network, EROS blockchain is up and running all the time following the allpossible security measurements.

Easy transactions:

Send and receive transactions with a single click. Extending the featured web based wallet, safe& fastest transactions confirmations within a few seconds.

ERO token storage facility:

One of the useful tool is the EROS Online token storage, it holds your coins in the web wallet forthe future use. Either you are a merchant or a normal user, you can store your tokens in a webwallet.However, the normal web wallets offer plenty of localisation support. As everyone knows, thecryptocurrency is a multilingual ecosystem, and people prefer to use services in their ownlanguage. Most of the regular wallet clients do the same, although their language pack is oftenlimited to “traditional” languages.Talking about EROSCOIN it is leading the charge in this regard, as it will be supporting a dozendifferent languages in the future. Without the language barrier, you are free to do borderlesstransactions within a seconds.

Decentralized Instant Payment Gateway

As mentioned in the Wikipedia, “A decentralised system in systems theory is a system in whichlower level components operate on local information to accomplish global goals.” To achieve thedecided goal, not only one system or person is working on it. But it requires more than onesystem to be connected with it.The EROSCOIN decentralized instant payment gateway is a peer to peer network operating onthe Ethereum blockchain. A transaction on the network consists of one or more operations.Payments, offers, and fees are all examples of operations that could make up a singletransaction.About transaction fees, There’s a nominal fee, referred to as a Gas fee of ethereum, associatedwith each operation in a transaction. It also supports high value payments transfer instantly.

Direct invoices to the customer:

EROS foundation introduces the first borderless instant invoice sending feature. Using thisfeature, you can generate invoice for any customer with your desire amount. At last, you aregoing to receive invoice amount inform of EROS Coin.

Invoice status generator:

To maintain transparency in EROS blockchain based payment gateway, we are assigning uniquepayment transaction ID to the every payments made. Use our instant Invoice Status tool to checkyour invoice status, either being paid, cancelled or rejected.

eCommerce integrations:

EROS provides full access to the merchants with more than 10+ eCommerce store integrationswith plugins compatibility.

Suitable for every businesses:

Working with EROS payment gateway does not requires any special skills or certificates. Havingsufficient knowledge of using crypto currency is enough for you. Just get your EROS merchantaccount and integrate the payment solution within your website.

Easy & fast transactions:

All of the transactions are being made on peer to peer basis. Once you create the transactions, itwill be completed within 15-20 seconds. It is insanely fast and safe too.

EROSPay Mobile Wallet

EROSPay mobile wallet makes easy your send/receive process. Basically the mobile wallet will belaunched on Android & iOS. About other platforms the development team will plan for the nextreleases on other platforms.Mobile wallet is built on totally secure code following the blockchain strategy to perform a fast &secure transactions within a seconds. Additionally the EROS mobile wallet is maintained toprovide better user interface. Have a look at our mobile wallet.

Extensive Features of Mobile Wallet

Easy to use interface:

EROS mobile wallet enables you to send and receive EROS blockchain payments on the go. Justpickup your mobile phone, login to the wallet, scan the QR code of receiver and hit the SENDbutton.

Backup phrase:

Remotely accessible wallet:

You have unlimited access to your wallet remotely from anywhere in the world. No matter inwhich country you are. We do not have any IP restrictions.

Secure mobile wallet:

EROS mobile wallet is fully secured built on the native concepts of application development byfollowing the mobile industry guidelines.

In-chat payment system:

Send and receive ERO money to your friends and family using in-chat payment system. just typethe amount you want to send in receiver’s chat and you’re done! once receiver approvestransaction, you will get ERO instantly in your account.

Request for payment:

One of the targeted and useful feature is request for the payment. Use it to request money ordue payments from your clients & friends. Request money using one touch button, your friend willreceive invoice, you will receive the payment once he/she confirms the request.

Links:

EROSCOIN Bounty Campaign Begins!

EROSCOIN
has started bounty campaign to reward community through social media
for their support. To promote EROSCOIN in the community some rules are
set and must be followed.

There
will be total 2.4 Million ERO is available for community distribution
through bounty campaign. Below is the list of all bounty campaign
rewards and rules with proper explanations.

NOTE:

-
Please note that all bounty rewards are paid on first come first serve
basis. As soon as bounty campaign reaches maximum amount it will be
closed automatically. Any attempts to abuse or trick the system will
result in permanent ban on our website as well as all future bounty
rewards will be cancelled.

- Bounty rewards will be paid to eligible bounty hunters, within two weeks of the ERO token creation and allocation.

Blog & News Articles (15%)

To
be eligible in the blog & news articles bounty you can write a blog
post on your active blog/news website to receive bounty rewards.

Blog Bounty Rules:

Blog should be at-least 300,600 or 900 words.

Your article must positively explain the EROSCOIN or Crowdsale in detail with graphics.

Telegram activities registration link:

EROSCOIN: A Decentralized Payment Gateway is All Set to Launch ICO This October

With
block-chain payment gateways coming up fast, EROSCOIN has set itself
apart with its enhanced security and features that leave its
competitor’s several miles off.

What is EROSCOIN?

Decentralized
payment gateways work by acting as an uninterrupted way of converting
and sending currency. Senders and receivers have the opportunity to make
transactions in whichever currency that are preferable to them. As
expected, in the middle and end points of the transaction, fiat and
cryptocurrencies are involved. So for example, if I decide to send
Bitcoin, the receiver may choose to withdraw it in their local fiat
currency, say the dollar.

There
are still a number of challenges to be overcome to achieve the end
goal, mass-adoption. These include the acceptance of different
currencies, currency-splitting, and ease of use. Startups are therefore
striving for continuous innovation in order to elevate the payment
transfer customer experience.

The
above now brings into play EROSCOIN, a decentralized, multi-currency,
peer-to-peer payment gateway that provides payment transfers that are
both more efficient and safe. A year in, the EROSCOIN team has managed
to introduce an innovative and convenient product for a harmonious
end-to-end cross-border money transfer that supports all
cryptocurrencies. Moreover, they have a solution for currency splitting.

Features OF EROSCOIN

The
EROSPAY Wallet is a mobile application built on an open-source, public
block-chain and it complies with all the ERC20 principles. It is
compatible for both Android and iOS devices. The features that it has
include peer-to-peer communication, In-chat instant payment, and
one-touch payments. With an easy to use interface, the application has
great potential for mass adoption. Additionally, EROSPAY Wallet provides
secure backup phrase protection and remote accessibility. Eros
micro-payment is a feature in the Wallet that unlike the others,
facilitates the sending of very small amounts of money.

The
Eros Pay Wallet is convenient to use and makes for smoother money
transactions. It also boasts a one-step access option while having an
integrated two-factor authentication system.

As
for e-commerce use, Eros Coin has services tailored specifically for
this sector in order to enable everyday exchanges. Retailers will
benefit from services like the Merchant panel as well as payment and
invoicing management. Most assuredly, the feature in EROSCOIN provides
advance invoicing tools to vendors to bill clients, send direct invoices
and check their invoice status.

ICO

The
EROSCOIN foundation is working towards bringing block-chain based
payment transfers to a wide range of sectors, including supply chain
management and product management. This will happen by providing an
easy-to-use product that supports almost every currency imaginable and
then placing it in the hands of the people.

For
the soon to happen Initial Coin Offering (ICO) of the ERO token, only
120 million coins are available for the 240 million market cap set by
the EROSCOIN team. The funds raised will be split. Half will go towards
research and development while the rest will be divided between business
expenses like marketing, legal work, operational work and bounty
programmes. The ICO period will start in about a week (11th Oct 2017)
and end on 15th November 2017.

All
who are interested in being at the forefront of technology should thus
familiarise themselves with EROSCOIN, the next generation block-chain
based global payment solution.

All You Need to Know About Multi Cryptocurrency Payment Gateways

All You Need to Know About Multi cryptocurrency Payment Gateways

A
multi cryptocurrency payment gateway is a fragmented platform which
enables the sending and receiving of payments in different
cryptocurrencies. A multi cryptocurrency payment gateway serves to
create a more direct payment method by removing all middlemen. As crypto
in cryptocurrency suggests, it seeks to make an online payment is safer
by use of a blockchain system. A blockchain system is simply a form of a
ledger. Moreover, the system facilitates global transactions in more
than one cryptocurrency. For purposes of efficiency, transparency, and
automation, the gateway employs the use of smart contracts; software
programs that act as an actual contract. The programmer tracks the whole
process, from the establishment of the agreement till the payment,
after which it is made available as an audit tool. This added security
gives all stakeholders peace of mind and adds trust which makes them
more likely to use such kind of a payment platform.

Why is conventional payment gateways better?

Where
international transactions are concerned, conventional payment gateways
come with a lot of hazards and limitations. A conventional user has to
switch currencies, some decentralized payment gateways accept more than
500 different types of cryptocurrencies to suit the situation, thus
easing the process. Its decentralized nature also means that there is no
human interaction. This means that the likelihood of events like
altering of figures and clerical errors is little to none. Another
tribute to its transparency is that there will be no more frozen
accounts due to hidden terms.

What makes Blockchain based payment gateway advisable?

A
blockchain based payment system creates a similar platform for use by
anyone, anywhere. No region or person needs a different application to
make use it. This gives freedom over when, how and where the user can
carry out payments.

The
automated smart contracts have terms that were already set prior. This
reduces the need for hiring counsel every time and in turn, transactions
are made faster. In 15 to 20 seconds, parties can confirm completion of
payments, more than 100 times faster than the traditional methods.

It
doesn’t necessarily have to be payments only, although some platforms
do focus solely on payments. Some platforms provide more extensive
services. EROSCOIN, for example, goes ahead to give you a whole
ecosystem.

More use of Blockchain based platforms

Other
than smart contracts, there are also other applications in the
blockchain system. By use of text messages, users can send payments to
each other via the In-chat system. It essentially is discussing business
while chatting. When the counterparty, be it a friend or just a
business, approves the request, a smart contract ensures it is valid,
and the money is delivered to your account. Similar to this is the P2P,
peer-to-peer, method. It particularly has reduced costs and can still be
in use when looking to transfer small amounts of money around the
globe.

With
more and more people depending on smartphones and technology, comes the
use of mobile wallets. They enable the user to send and receive money
instantly to any other smartphone with a valid blockchain address. It
gets rid of the need for a bank account. They function the same way for
commercial and non-commercial transactions.

Solutions yet to be implemented include order, product and invoice management applications.

This will eventually be the way to go for business owners seeking to run e-commerce companies and firms.